In a new interview, Todd Boehly has taken aim at the English media as the Chelsea co-owner fires back at criticism. The American businessman, along with Mark Walter, Hansjorg Wyss and Clearlake Capital, launched a successful bid to buy the Blues in March 2022. Roman Abramovich had put the club up for sale after the Russian invasion of Ukraine.
AFPRollercoaster start to Boehly era
Former Chelsea owner Abramovich had been forced to sell the club in 2022 after he was sanctioned by then-UK Prime Minister Boris Johnson. Abramovich's close ties with Russian President Vladimir Putin meant the 59-year-old's assets were frozen in the wake of Russia's full-scale invasion of neighbouring Ukraine, a conflict that continues to rumble on.
This paved the way for Boehly to take the reins at Chelsea, having initially seen a $3bn offer to buy the club rejected in 2019. A consortium fronted by the American businessman would ultimately pay £4.25bn to seal the takeover, which was approved by the British government on May 25, 2022, and on May 30, the sale was completed, ending Abramovich's 19-year ownership of the club.
Boehly's time at Chelsea hasn't been plain sailing, with the American coming in for criticism for the way in which he has managed the club. Indeed, he opted to relieve fan favourite Thomas Tuchel shortly after taking charge, while the German's successors Graham Potter, Frank Lampard and Mauricio Pochettino also suffered the same fate.
Chelsea, though, are on an upward trajectory with Enzo Maresca in the dugout. The Italian guided the Blues back to the Champions League in his debut season in charge, and also won the UEFA Conference League and Club World Cup in his first 12 months in west London.
AdvertisementBoehly takes criticism on the chin
Boehly, who also has stakes in the LA Dodgers and the LA Lakers, is used to dealing with unhappy fans. Indeed, when asked by the Australian Financial Review how he deals with criticism, Boehly replied: "Sometimes my wife and my family take it differently than I take it. I just find it’s one more person that doesn’t know what they’re talking about."
Taking aim at the media, Boehly added: "The English papers remind me every day how smart they are and how stupid I am."
Boehly went on to express his excitement about the future of the club, saying: "You’re going to continue to watch our team evolve and grow. We’ve got them together for a long time. I’m pretty excited about what the future looks like."
Chelsea's first season since Boehly took ownership didn't go quite according to plan as the Blues finished 12th in the Premier League. However, there has been a marked improvement in the following seasons, with Chelsea finishing sixth in the 2023-24 campaign before securing a top-four finish under Maresca last season.
After 11 games this season, Chelsea find themselves in third place, six points behind league leaders Arsenal, following their 3-0 win over Wolves last time out.
Getty Images SportChelsea's established global fan base
The Chelsea supremo also mentioned that one of the focuses is to grow the club's global brand across the world. "We’re trying to grow a global fan base. If your fan base is continuing to grow all around the world, that should lead it to naturally believe that your revenue is going to continue to grow," Boehly said.
Chelsea already have a well-established global fan base, which rose considerably after Abramovich initially took charge in June 2003. During his time at Stamford Bridge, Chelsea won the Premier League five times, the Champions League twice and the Europa League twice as the Blues became a European force to be reckoned with.
And as of February 2024, Chelsea have an estimated 136.7 million social media followers across numerous platforms, including X, Facebook and Instagram.
Funds from Chelsea sale still frozen
While Abramovich was forced to sell Chelsea in 2022, full proceeds from the £2.5bn sale remain frozen in a UK bank account. Abramovich wanted the funds to benefit "all victims of war" while the UK's position is that the money can only be used for "humanitarian purposes".
"This government is working hard to ensure the proceeds from the sale of Chelsea FC reach humanitarian causes in Ukraine as quickly as possible," a Foreign, Commonwealth & Development Office spokesperson said on Monday.
"The proceeds are currently frozen in a UK bank account while a new independent foundation is established to manage and distribute the money.
"UK officials continue to hold discussions with Mr Abramovich's representatives, experts and international partners, and we will double down on our efforts to reach a resolution."
The UK government's position, which has not changed despite Labour's UK election win last year, is that the money can only be used for humanitarian purposes in Ukraine.